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box" and the latest from the massey mine in west virginia where four miners remain missing. >>> good morning. welcome back to squawk here on cnbc. i'm kcarl quintanilla along wit michelle crusoe cabrera and andrew ross sorkin. >>> our top story today, an explosion rimming through a west virginia before mine owned by massey energy. four miners are missing deep journd ground and 25 are dead. federal records show it has three fatalities since 19 the 8. massey is the largest coal producer in central appalachia. we're still waiting for updates from the governor. the mine safety health administration is on-site and we're hoping that at least the four that are missing can be saved. there are air tight chambers within the mine that you can get to. there's oxygen, there's food, you can live for up to four days. but the issue st whether or not they were able to get to those chambers in time. >> historically, a very dangerous job to have. but certainly this will, again, put a laser-like focus on whether or not they're doing enough to be safe there. >> what is the insurance business like, do you
. meantime, northrop grumman is moving its headquarters, relocating to the virginia suburbs california. company is said to want to be closer. bob mcdonnell will make an announcement on that today. >>> general motors reportedly choosing its engine plant outside buffalo, new york, to build a new v-8 engine. that news conference is planned today. they will be announcing a $400 million investment for a next generation engine and the venture is expected to create or retain more than 700 jobs. >>> the president's commission on national fiscal responsibility on reform will meet this morning. joining us is a member of the special commission, also a member of the budget and finance committees and, jeb, thank you forp joining us this morning. what are you expecting in this meeting? >> well, that's a good question. like i approach most things in washington, i go in with high hopes and low expectations. high hopes, we have a very serious spending crisis that ultimately our spending is unsustainable and we are going to have lower per capita gdp if we don't do something about it. some of these commi
of the ticketing practices. it's amazing. >>> when we come back, the mining accident in west virginia raising some more safety concerns. the congressman from the state's third district will tell us how the industry should react to this incident and other violations when "squawk box" comes right back. 00-345-2550 every online equity trade is now $8.95 tdd# 1-800-345-2550 no matter your account balance, how often you trade tdd# 1-800-345-2550 or how many shares... tdd# 1-800-345-2550 you pay what they pay what everyone pays: $8.95. tdd# 1-800-345-2550 and you still get all the help tdd# 1-800-345-2550 t you expect from schwab tdd# 1-800-345-2550 millions of investors. one price. tdd# 1-800-345-2550 at charles schwab... tdd# 1-800-345-2550 investors rule. tdd# 1-800-345-2550 are you ready to rule? >>> checking the dow futures right now, they indicate a lower open. not by much, though, if you were to include fair value. next, we set up the trading day. the treasury auction at 1:00 during "power lunch." what it's going to move for the dow's move toward 11,000. >>> and then west virginia congressman nic
the governor of virginia and slavery or sarah palin talking about a school yard brawl with barack obama. so it's really a -- we're very deeply into a silly season here. they may actually get some stuff done despite it but both parties seem to be doing everything they can to avoid actual serious work. >> mike, you talked about the problem that the republicans may have with messaging that they can't be rooting for a recession. isn't the same thing true with financial regulation? how do you be against it given what just happened? >> that's right. and they need to find some things that they can be for. there's no indication that republicans in the senate want to work with democrats. it's another case where they may be blowing a great opportunity. just today gallop has favorability of the democratic party. the same as republicans. the advantage has been erased. you have republican antics making headlines rather than what they're doing and in the season with a time of volatility in our country, republicans have an amazing chance. i ran into michael barone and we would get a republican house and demo
to west virgi a virginia. i don't think there's even any mountains there, but john denver is singing away. >> "country roads." >> but among our ghosts -- what does exclusive mean, exactly? do you have these people? >> yes, we have all these people sflp. >> are you sure? >> yes. >> they're first here? >> yes. >> so they're not exclusive to any other network? they're first here. yes. >> that's unbelievable. mario gabelli, joe moglia and david sokol. then on monday, warren buffett starting at 8:00 a.m. eastern. don't miss a minute. >>> welcome back, everybody. right now, it's time for a check on the news outside the world of business. contessa brewer is here with a roundup of the headlines. contessa, we never get to see you this early. good morning. >> they woke me up bright and early so i could be here. >>> desperate crews are using fires to fight a massive oil spill threatening the gulf coast. the coast guard now estimates the well is pumping five times more oil per day into the gulf than originally thought, although bp dissxuts that. meantime, time is running out. >>> the republican party
that odd off-year election with virginia, we have an opportunity to stand up and be leaders across the country. >> who can stop you? what can your opponents do to stop you? >> i have a democratic legislature, joe. i've got to figure out a way to work with that democratic legislature to get these things passed. i will tell you that especially in the southern part of our state, we have a lot of voters who are fed up. they're conservative democrats. blue collar democrats. they say that we can't afford to pay for this anymore and we don't want to pay for these benefits. most people in new jersey if they have health benefits pay for them. many public employees are paying nothing toward health care and taxpayers are paying the whole tab. those folks are getting upset about it. unhappy about it. rightfully so. i think we'll be able to put together a coalition of folks who know that this is something we need to do know. >> governor, this is jim paulsen. throwing something out for controversy, what do you worry about when you cut back right now emerging from a recession that you could slow
. the two sides have been talking for 20 months or so. >>> rescue crews are moving into the west virginia coal mine where 25 workers have died in the worst u.s. mining disaster in decades. officials do not expect to find any survivors because of the poisonous gases in the underground tunnels. four miners are still officially listed as missing. >>> president obama and russian president medvedev signing a treaty in prague today. the news conference just ending. >> while the new treaty is an important first step forward, it's just one step on a longer journey. as i said last year in prague, this treaty will set the stage for further cuts and going forward we hope to pursue discussions with russia on reducing both our strategic and tactical weapons including nondeployed weapons. >> the president will host 46 nations including russia and china for a nuclear summit in washington coming up next week. >>> greek five-year cds exceed dubai and iceland as of this morning. >> comments or question, e-mail us at squawk@cnbc.com. when we return, breaking news on the consumer from steve liesman and smoki
virginia yesterday to pay tribute to the 29 miners who lost their lives earlier this month in one of the nation's worst coal mine disasters in decades. in a stirring eulogy, the president told the families of the workers that the nation will honor their memories by improving mine safety. >>> in mexico, one of spain's top bull fighters is in critical condition after being brutally gored in the groin by an 1,100 pound bull. the matador is expected to survive despite losing some 17 pints of blood. >>> and we'll be back in a moment. national car rental knows i'm picky. so, at national, i go right past the counter... and you get to choose any car in the aisle. choose any car? you cannot be serious! okay. seriously, you choose. go national. go like a pro. >>> welcome back, everybody, we are in the chairs and we're talking about things that are catching our attention this morning. i brought a story in from over the weekend. because with all of the confusion if health care, there are a numb of scams that are popping up in states are starting to alert people. i think it's worth talking abo
. the spreading thick is now slightly larger than the state of west virginia. in a debt pratt attempt to keep that from washing ashore, they're considering setting fires off to burn off the crude. >>> and take a look at these pictures. if you're a regular commuter, it's that time of year. carl quintanilla putting his team of personal assistants through the paces. yes, the run for the roset. hundreds of workers seeing who could carry a tray of wine through an obstacle course. >> i like that. >> do you gries remember this from last year? >> no. >> kind of. >> we cave carl so far grief for this because we said this is how carl arrives to work every day. he gets there and -- >> i don't drink rose. >> he has a group of assistants and they're racing out to get to carl and let him start off his morning ride. >> let's go. who is with me? >> when do you order a rose? really. >> summertime. >> is it like a white zinfin did he l? >> it's not. that's as much as i know. but i've had enough -- >> i'm totally wrong. i don't know what i'm talking about? >> is it mateuse? >> is that rose? mateuse? >> reunite
buyers. to, you know, mom and dad at the end of the street, down in virginia beach or down in, you know, wherever, so rates go lower, more money is available, and it allows people to get in to houses, right? this is what got us into this product. so, i credit default swap allows jpmorgan to buy protection against loans that they're on hook for and making to main street. >> it seems to me that regulatory reform, where we have completely dropped things, or with the bond insurers, first of all, who rated this particular transaction aaa, both s&p and moodies, and the municipal bond insurers that got into all kind of other business. municipal bond insurers across the board, not because of municipalities going broke but because they were all of a sudden insures stuff like this. >> exactly. nobody's talking about aca in this process, right? they were the manager of this transaction. they were supposed to be there on behalf of the long -- >> they lost almost a billion dollars on something that they were supposedly experts on. >> i'll tell you the other side, everybody knew who paulson was back
Search Results 0 to 9 of about 10